ASSESSMENTS

Russia: Taking Control With a Bailout

Oct 30, 2008 | 20:22 GMT

MAXIM MARMUR/AFP/Getty Images

Summary

Russian foreign exchange reserves fell $31 billion in the week ending Oct. 24 as a result of the Russian government's move to prop up its banks and corporations. To prevent a massive bloodletting in these sectors, Moscow has initiated a plan to use its vast foreign reserves to rescue its banks and corporations. The end result of this strategy will be increased government control of the economy and reduced overall cash reserves.

Moscow is initiating plans to use its massive reserves to prop up its faltering banks and corporations....

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